Grockit marries social media with standardized test prep.
Despite the controversy surrounding standardized tests for college admissions (Are they fair? What do they measure?), exams like the SAT and ACT remain a necessary evil for most college-bound students.
The same might be said of the process of preparing for these exams, a phenomenon that has spawned a multi-billion dollar industry led by two companies, the Washington Post Co.'s (WPO) Kaplan and The Princeton Review.
But like the music and publishing industries before it, the test-prep sector faces disruption from scrappy Internet startups. One such company, San Francisco-based Grockit, is determined to leverage the assets of the Web—real-time, on-demand, adaptive, global, social—to make practicing for tests more effective, and maybe even a little bit fun.
Founded in 2006, Grockit has raised $10.7 million in venture financing from Benchmark Capital, Integral Capital Partners and angel investors like LinkedIn founder Reid Hoffman and Zynga founder Mark Pincus. More
|Stocks finish higher for fourth straight week|
|Prison exclusive: Bernie Madoff can't sleep|
|Oil-price manipulation: the next Libor?|
|Google says you'll know when Glass is sketchy|
|Signs of new housing bubble in several areas|